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Home Energy Management is Expected to Exceed $3 Billion in Annual Revenue in 2020, According to Navigant Research
[December 09, 2014]

Home Energy Management is Expected to Exceed $3 Billion in Annual Revenue in 2020, According to Navigant Research


A new report from Navigant Research examines regional and global trends in the home energy management (HEM) market, including global HEM market forecasts, broken out by segment and world region, through 2020.

After years of sputtering growth, the HEM market has begun to gather momentum. Product vendors, utilities, service providers, retailers, and other stakeholders report increasing activity, and there are signs of growing awareness among consumers that new tools are available to help them better manage and control their home energy consumption. Click to tweet: According to a new report from Navigant Research, global revenue from HEM products and services is expected to grow from $846 million annually in 2013 to more than $3 billion in 2020.

"The HEM market got a jolt when Google (News - Alert) purchased Nest Labs for $3.2 billion in January 2014, signaling to the market that a major technology company saw value in home energy and automation," says Neil Strother, principal research analyst with Navigant Research. "This sector is poised for significant growth in 2015, as vendors release new products and large retailers offer new, customer-friendly packages and products."

Other active HEM vendors include Honeywell (News - Alert), which in June 2014 announced its Lyric smart thermostat, featuring a geofencing capability that uses a homeowner's smartphone location to adjust settings. Thermostat maker Carrier and Ceiva Energy formed a partnership to jointly offer a solution to utilities that enables them to deploy demand response (DR) and energy efficiency programs. Opower also released the latest version of its customer engagement platform in 2014, which extends its analytics capability and provides an open ecosystem for utility customers.



The report, "Home Energy Management," examines regional and global HEM trends, with an emphasis on products and services along a continuum of five segments: paper bills, web portals, standalone HEM systems, in-home displays (IHDs), and networked HEM systems. The report examines the key drivers and inhibitors affecting the market and delves into the major technology issues. Global HEM market forecasts, broken out by segment and world region, extend through 2020. The report also provides key vendor profiles and analysis of new players, as well as details on specific HEM case studies. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research


Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals provide services that extend from expert and advisory work through implementation and outsourcing. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients' needs in highly regulated industries including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the report, "Home Energy Management," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.


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